China to invest $750 billion in Nigeria, others in 5years

The Premier of the State Council of the People’s Republic of China, Li kequiang has said Nigeria would also benefit from the $ 750 billion outbound investment the country would be making within the next five years.

In his comment at the end of the annual meeting of the new champions, otherwise known as Summer Davos, in Dalian, China, Keqiang added that Nigeria will be one of China’s destination for the importation of $8 trillion worth of goods within the same period.

China is now ready to work with Nigeria and all countries to achieve inclusive growth in economic globalization and the new industrial revolution. In the coming five years, China is going to import $8 trillion worth of goods from the world and make $750 billion outbound investment, which will deliver massive benefits to the world including Nigeria.

The Premier reiterated China’s commitment to international cooperation in industrial capacity and equipment manufacturing which will not only benefit China but also accelerates other developing countries’ industrialisation.

He further explained that a new round of industrial revolution will not only address the challenges that plague the global economy, it is also expected to give a strong boost to economic growth to Nigeria and countries across the globe.

Although, global economy recovery remains weighed down by lack of growth drivers, structural imbalances are yet to be fundamentally addressed and risk of de-globalization hangs over the world economy. This new round of industrial revolution is expected to give a strong boost to economic growth to Nigeria and countries across the globe, as well as targeted at delivering massive benefits to all countries, including Nigeria, to bring about new and better hope for citizens, he said.

According to the  report, the meeting with the theme, “Achieving Inclusive Growth in the fourth Industrial Revolution”, was attended by over 2,000 participants from over 80 countries including Nigeria.

The communique issued at the end of the meeting stated that promoting inclusive growth calls for upholding economic globalization, adding that all countries, including Nigeria, must adapt to and steer economic globalization to promote trade and investment, liberalization and facilitation.

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